The caveat to that is this was very clearly a case of market manipulation with a 30million sell order. What they did instead was cut access to countless users - either through lack of capacity or for other reasons, and allowed trades to execute. Post a comment! With that being the case, the account inaccessible, the funds should have been frozen. Yes, insofar as it appears to be a clear case of market manipulation and Legal counsel coinbase forced liquidation poloniex was down while these liquidations took place. Dude you must suck at trading then! I know thats news to all you ignorant assholes. Cold wallets do not need internet storj no contracts if price history of ethereum price transfer ripple wallet to new wallet on gatehub fast aka flash-crash you don't get a warning, noone is going to wait while you adding the funds. Again to clarify - you literally cannot reverse a buy without also reversing a sell. Sorry for your loss, hopefully you will learn from this and stay away from margin trading in the future, and may this be a warning to. The price dropping from to below 20 dollars and closing all open buy margin trades is a glitch. It's fun to blame exchanges but you're the idiot margin trading crypto. I'm gonna go. They like to talk. Think about closing your longs that are running on leverage in other markets and on other exchanges. Hopefully GDAX makes it right. Get raped noobs. That is bullshit man. Edit, just want to clarify, I had The way margin trading works is that you put in a deposit and borrow money so that you can buy more coins. A little legal action got the issues resolved understanding ethereum litecoin bip 9 quickly!
A lot of great folks in the community nut also a withdraw bitcoin from coinbase poloniex verification levels if whiny entitled amatuers that want no regulation or interference from gov't unless they want it because something they don't get happened. Exchanges that offer margin are like casinos. Yes, I understand what you are saying, and I would be willing to accept that as the risk of doing business. What they did instead was cut access to countless users - either through lack of capacity or for other reasons, and allowed trades to execute. Later when in finally reloaded, I had to re-login, and a margin sell trade had been initiated. While i feel your pain, it will not be corrected, as it isnt corrected on earlier occasions. Ok, but what about coinbase website going offline, and GDAX becoming completely unresponsive? The caveat to that is this was very clearly a case of market manipulation with a 30million sell order. We are getting our money .
When someone does something wrong they need to be held accountable. What they should have done is the same as they have done in the past, what all kinds of exchanges usually do in extreme situations. Coinbase was down for maintenance, and GDAX completely unresponsive. How much does it cost? True maybe it happened too fast in theory etc.. They should have stopped trading. I understand that. A lot of great folks in the community nut also a ton if whiny entitled amatuers that want no regulation or interference from gov't unless they want it because something they don't get happened. The caveat to that is this was very clearly a case of market manipulation with a 30million sell order.
Not having access during such times is totally unacceptible. That is just wrong. It's a cascade you greedy fools. This loss is absolutely not your fault. Crypto is bitcoin value chart usd bitcoin classic coinmarke volatile and dynamic. I was on chat with friends; "there was a few second delay and the number Borderline manipulation. True maybe it happened bitcoin fastcoin companies that take bitcoin as payment fast in theory etc. Find out 24 hours later what happened. That means you declared yourself an ECP, right? Would be more of an experiment more than. Sorry for your loss! If there are a sufficient amount of stop loss orders and margin traders he could get back all the ETH he initially sold at very cheap prices. Everyone trolls and yet. Submit a new text post. Then everything stopped working. Clearly you don't understand how margin trading works so you just came to do some moaning and whining of your. However I would say due to the website down, Coinbase is liable.
You shouldn't be allowed to sell faster than the order book can keep up with. Dude you must suck at trading then! It's not an exchange's fault, that's how crazy the whole market is. And B. They definitely need to reimburse cause that's just not right. Exactly what happened. While i feel your pain, it will not be corrected, as it isnt corrected on earlier occasions. What they did instead was cut access to countless users - either through lack of capacity or for other reasons, and allowed trades to execute. If the site is down and you cant login or trade
But nothing could be. Ignorant bitcoin halving day price 2020 how much money can ethereum go to usually don't like to listen. Honoring properly executed orders is critical to maintaining the integrity of an exchange. You dumb shit. Want to join? With that being the case, the account inaccessible, the funds should have been frozen. If you weren't smart enough to realize that people can market sell the entire order book you shouldn't have been margin trading. Good luck anyway! A lot of great folks in the community nut also a ton if whiny entitled amatuers that want no regulation or interference from gov't unless they want it because something they don't get happened. Everyone trolls and yet. Sorry for your loss. It's not an exchange's fault, that's how crazy the whole market is. And B. So wait, tell us again how this is our fault? Thought it was due to the ICO, but apparently not. No open orders of any kind. I emailed coinbase support and now waiting to hear .
Come back, have to log in. I'm a bot, bleep , bloop. You fucked up dude. Or other protection to your margin. For support visit our help center or call For Coinbase news visit our blog and follow us on twitter For API documentation visit our developer site Frequently Asked Questions What is Coinbase? If there are a sufficient amount of stop loss orders and margin traders he could get back all the ETH he initially sold at very cheap prices. Not the exchange. This is just my guess, as I don't know the details of your initial position. Man you guys are talking about very complicated stuff, using words like "liquidated" and "margin open". I'm curious how this affects the situation.
My only advice is to learn your lesson and move on. No way to save. You can't reverse half of a two part transaction. Absolutely, I don't think anyone doubts that it was pure manipulation. I've seen them before, I just can't remember. Gdax fucked up and they know it. On 21 June at This is what happened on gdax. Find out 24 hours later what happened. There is no way GDAX can both protect itself and protect its risk-choosing customers from sudden events whose resolution crash recovery or not cannot be known at the moment of sudden change. I was at my computer the whole time. I monitor GDAX almost continuously, but it because it was unresponsive earlier, and Coinbase returned an under maintenance message, closed the window and went on with my day. Stop orders are for people why is amd used for bitcoin mining gatehub account verified but disabled on wallet know what they are doing. That's kind of cool I guess. As for suing though I'm not sure that's something you can consider, everything happened according to terms it sucks, I'm sorry, really. Sorry, you're just plain wrong. I was at my PC the whole time, have alerts for drops set up
There will always be the possibility that the orderbooks get wiped out from manipulation, but since they offer margin, the onus is on GDAX to mitigate unfair liquidation in the face of extreme price swings. If I had access to my account at that time, I certainly would have sold at a loss, but far higher than the margin call executed. I've seen debate elsewhere, worth digging. Get an ad-free experience with special benefits, and directly support Reddit. I am an active trader of equities and have used Etrade margin. That is just wrong. That's what margin trading should be. It seems like there really needs to be a time delay for liquidation otherwise more bad actors can abuse this type of behavior. Coinbase is supposed to be insured.
So you get time to add funds. If they did not, and the crash turned out to be long term, they would have allowed traders accounts to go deeply negative. I think the last time something similar happened with litecoin. That sounds terrifying, everyone getting liquidated even without margin legal counsel coinbase forced liquidation poloniex. CoinBase submitted 1 year ago by DontchawantaSanta. This process of automatic liquidation is what caused these very low sells. I've seen debate elsewhere, worth digging. Everything happened as it was supposed to bitcoin mining cloud servers bite lite cloud mining. Get an ad-free experience with special benefits, and directly support Reddit. Seen in this statement from GDAX: Your margin got called because the price dropped. The air filled with the sweet smell of the thousands I'm getting back, that is now worth way more than the amount I lost it at. Thought it was due to the ICO, but apparently not. Crypto moves fast. For me the website became completely unresponsive at 3: Stop orders are for people who know what they are doing. However, automatic liquidation occurs if the value of this portfolio gets too low. I had an automatic trade to buy 30 ether at
How do I buy and sell digital currency? The value of Eth did not drop anywhere else so low. GDAX's incompetence is unbelievable. Margin trading on GDAX; Coinbase trading platform Just came back to my computer and see that my trade triggered and then I got margin called on the whole trade because the price of Ether dropped to less than 30 dollars? There is nothing to make right. The risk of margin is heightened gains and losses or a liquidation in a legitimate price movement, not complete loss in manipulated "flash crashes" such as this. Shares and forex margin trading works in exactly same way. There is no way GDAX can both protect itself and protect its risk-choosing customers from sudden events whose resolution crash recovery or not cannot be known at the moment of sudden change. I was live trading all day yesterday, the site was down just prior to the 'event' on my end. Again to clarify - you literally cannot reverse a buy without also reversing a sell. I had The air filled with the sweet smell of the thousands I'm getting back, that is now worth way more than the amount I lost it at. Things looked normal and at 3: That means you declared yourself an ECP, right? Absolutely agree here. Coinbase is supposed to be insured. For some reason you seem to believe the Eth exchanges are linked, they are NOT linked. The price dropping from to below 20 dollars and closing all open buy margin trades is a glitch.
How is a 1-minute drop of Seems kind of insane that you'd want to margin trade literally the most volatile 'asset' of all time, but hey I guess whatever floats your boat. Absolutely, I don't think anyone doubts that it was pure manipulation. Crypto is very volatile and dynamic. Not looking good for most anybody that was long on margin. Even their own terms and conditions address these two exact scenarios. How do I buy and sell digital currency? Stop orders are for people who know what they ethereum mining best software new generation asic bitcoin miner doing. They like to talk. Active trader using etrade. I'd recommend to people to think about deleveraging somewhat right now to avoid this shit repeating. Now that's a good position. Everyone trolls and yet. The caveat to that is this was very clearly a case of market manipulation with a 30million sell order. Sorry for your loss, hopefully you will learn from this and stay away from margin trading in the future, and may this be a warning to. Find out 24 hours later what happened.
So you get time to add funds. Did this bs happen to anyone else? I know thats news to all you ignorant assholes. Buying and selling through coinbase main site costs much more. They do not offer Margin trading for US citizens I wonder why Post a comment! You gotta risk it to get the biscuit hahahahahahahaah rich people are some of the stingiest people I know. Trading on margin in crypto is risky but people in this thread are vilifying it. There is simply no time for warning messages and adding more funds. There will always be the possibility that the orderbooks get wiped out from manipulation, but since they offer margin, the onus is on GDAX to mitigate unfair liquidation in the face of extreme price swings.
Ether price started falling. Because people don't like the truth, they like to rage and blame some larger entity than themselves for their own problems. Welcome to Reddit, the front page of the internet. Good question. What I'm suggesting is that a bad actor could place a buy order at this very low amount and then trigger a liquidation cascade by selling a sufficient amount of ETH. Trolls, heres a lesson for you, a. I don't get why GDAX does. This however was too much for some margin traders and forced liquidation which in turn forced them to sell ETH at low prices and lower the price even further triggering more liquidations. This loss is absolutely not your fault. Come back, have to log in. You should have some time to make your obligation whole by transferring funds into the account. Best of luck.